Royal Caribbean Beats Expectations Again
Investors were optimistic heading into Royal Caribbean's (NYSE: RCL) third-quarter earnings report that includes the seasonally strong summer months. The cruise giant's last few operating announcements were highlighted by surprisingly strong demand and rising ticket prices, which contrasted with the slowdown that has stalled Carnival's (NYSE: CCL) business in 2019.
On Wednesday, Royal Caribbean joined its main competitor in lowering its outlook for the year. However, nearly all of that downgrade can be pinned on one-time effects from Hurricane Dorian, which battered the Bahamas during the quarter. Ignoring those disruptions, the company sees a clear path toward record results this fiscal year and into early 2020.
Let's take a closer look.
Source Fool.com
